The Asia-Pacific region is projected to grow at the fastest CAGR of over 15% owing to China’s lithium-ion battery industry. Per the report, approximately 14% of global car sales by 2025 will be electric, consequently raising the demand for lithium-ion batteries.Īutomobile and electronics manufacturers are moving their manufacturing operations to China to reduce the labor and logistics costs as well as gain access to uninterrupted raw material supply due to the country’s status as a global leader in the lithium-ion battery value chain. The main factors driving market growth are increasing carbon emissions as well as a shift in the automobile industry from conventional fuel vehicles to electric vehicles. Sources: Company registration statement Market & CompetitionĪccording to a 2019 market research report by Adroit Market Research, the global lithium-ion battery market is projected to reach $105 billion by 2025. ![]() The sales efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of selling & administrative spend, dropped to 0.6x in the most recent period, as shown in the table below: Sales and marketing expenses as a percentage of revenue have dropped significantly as revenues have increased, per the table below: The company’s four-person direct sales staff is assigned to major geographies to collaborate with its sales partners with an established customer base.Īdditionally, the company has a call center as well as a nationwide network of service providers, most commonly forklift equipment dealers and battery distributors, tasked with providing local support to large customers. Customer Acquisitionįlux Power markets its products both directly to end-users, OEMs, and lift equipment dealers, as well as through battery distributors. The firm believes that UL Listing ‘demonstrates the safety, reliability, and durability of our products and gives us an important competitive advantage over other lithium-ion energy suppliers.’įinal assembly, testing, and shipping of the company’s products is done from its ISO 9001-certified facility which operates three assembly lines. Management claims that its Class 3 End Rider LiFT pack product line has been approved for use by major industrial motive manufacturers, including Toyota Material Handling, Crown Equipment, and Raymond Corporation. ![]() In 2016, the firm obtained an Underwriters Laboratory Listing for its Class 3 Walkie Pallet Jack LiFT pack product line and anticipates to seek UL Listing for its Class 1 Counterbalance/Sit down/Ride-on, Class 2 Narrow Aisle, and Class 3 End Rider LiFT packs.īelow is an overview graphic of the company’s product lines: Dutt, who has been with the firm since 2012 and was previously COO and CFO at Famgro Farms.įlux Power has developed the LiFT battery pack technology.īelow is a brief overview video of Flux Power: Management is headed by President, CEO and Director Ronald F. ![]() Vista, California-based Flux Power was founded in 1998 to design, develop, manufacture and market lithium-ion batteries for lift trucks, airport ground support equipment, and other industrial applications. The company sells lithium-ion batteries for a variety of use cases.įLUX has grown revenue quickly in percentage terms, but we don’t have Q2 2019 numbers so lack visibility given the high price management is asking IPO investors to pay. Flux Power ( OTCQB:FLUX) has filed to raise $13 million in an IPO of its common stock, per an amended registration statement.
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